The invention relates generally to a system and method for providing value added services and more particularly, the invention relates to a system and method for providing value added services in an asset network.
Conventional asset networks employ a telematics system to provide real time data about an asset in an asset network. Such telematics systems include multiple sensors disposed on the assets to acquire different kinds of data related to the asset. The multiple sensors transmit the acquired data to a data analysis system via a hub attached to the asset. Typically, the data analysis system receives real time data about the asset such as, but not limited to, location, speed, loading/unloading, tire pressure and driving pattern via respective sensors. Furthermore, the data analysis system monitors the real time data and provides an alarm signal in case of any discrepancies. However, the conventional telematics system is unable to collect data related to the location at which location the asset is disposed. Furthermore, the data analysis system employed in the conventional telematics systems is unable to fuse unrelated data and identify patterns in the fused data.
In addition, the data analysis system is incapable to provide real time information about the different conditions prevailing in the location. Furthermore, the data analysis system is unable to provide justifications and possible predicted solutions in case of sudden changes in the commonly prevailing conditions.
Therefore, there is a need for an improved telematics system in an asset network that addresses one or more aforementioned issues.